How I have scored invoice pricing with 3.99% APR on my 370Z?

Zwife · 06-21-2009, 11:19 AM

I've never tried to get a car loan this way. I want to make sure I understand how this works. Is the 3.99% financing locked in for 90 days once they cut the check and send it to you, or do they use the current rate available when the dealer cashes it?

Thanks everyone. This has been a really informative thread!

AK370Z · 06-22-2009, 04:36 AM

Quote:

Originally Posted by Spaceman

AK370Z, thank you so much for posting this information! You literally saved me thousands of dollars in interest!

When I saw the 370Z on the road I was excited about test driving one and possibly purchasing it. After test driving a touring 370Z, I wasn't as impressed as I hoped. There was a 350Z NISMO at the dealership so I chose to test drive that as well and I fell in love with it. Coming from an Audi RS4 it's hard to be impressed by the power output on these Z's but the handling and styling on the NISMO won me over. 370Z is a nice car and has a lot of potential, but the NISMO is almost 100% complete. It just needs more power and I will be set.

Anyhow, I just wanted to thank you for posting this helpful information. Surprisingly, when I applied for a car loan on Lending Tree and Capital One I did not get approved. I signed up at PenFed and just had to mail in my pay stubs and within a week (they are over loaded with loan requests) I got my loan check. I got 4.75% for 72 months and the dealer offered me 6.99% and said there was no way I could get 4.75%, was he surprised!

Thanks again, and to anyone looking for a loan PenFed is a great place to start!

You're welcome! It is a great institution and so far everything has been headache free. My dealer told me the same thing 6.99% is the lowest they can give even with the best credit score. Feel free to post some pictures of your Nismo Z in the "other vehicle" section in the "lounge".

Quote:

Originally Posted by Zwife

I've never tried to get a car loan this way. I want to make sure I understand how this works. Is the 3.99% financing locked in for 90 days once they cut the check and send it to you, or do they use the current rate available when the dealer cashes it?

Thanks everyone. This has been a really informative thread!

The check is good for 90 days (that's what some of the members told me). There's NO variable rates. Either you will qualify for the 3.99% or you will NOT. Dealer check will be cashed at 3.99% APR if you qualify.

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06-21-2009, 11:19 AM	#1 (permalink)
Zwife Base Member Join Date: Jun 2009 Location: Texas Posts: 1 Drives: 2001 Jeep Gr Cherok Rep Power: 18	I've never tried to get a car loan this way. I want to make sure I understand how this works. Is the 3.99% financing locked in for 90 days once they cut the check and send it to you, or do they use the current rate available when the dealer cashes it? Thanks everyone. This has been a really informative thread!